Coronavirus Penny Stocks Continue to Garner Widespread Market Attention
COVID-19 has reshaped our entire world in only a matter of a few months and countless penny stocks have benefited. Beginning in January, many leading biotech companies quickly embarked on a mission to create a vaccine. With only a few months behind them, the results have been unprecedented. We have the tools to produce vaccines and treatments for new illnesses. But these usually take a great deal of time to both research and commercialize.
This year, coronavirus penny stocks have jumped due to their participation in the race to find a COVID treatment. In the U.S., the FDA has fast-tracked the approval process for new, potential vaccines, and medicines. Normally, biotech companies have to conduct phase trials and that can take years. Due to the nature of the pandemic, organizations like the FDA are pushing treatments forward faster. Government organizations are also flooding the space with new funds for accelerated R&D.
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There are, of course, many biotech companies working on potential vaccines. However, investors sometimes forget about the opportunity that some biotech companies present. This is especially true when referencing ones that work on treatments for severe illnesses. If these treatments prove to be beneficial, this can become a game-changer for curbing the death rates of this pandemic. With the fight against COVID ramping up, let’s take a look at some biotech penny stocks gaining steam this year.
Coronavirus Penny Stocks to Watch: Revive Therapeutics
Revive Therapeutics Ltd. (RVVTF Stock Report)(RVV) has chosen to focus on using existing drugs to address COVID and its side effects. Research has shown that ARDS can be one of the most detrimental effects of COVID-19. It can also lead to lasting effects on the body and the lungs. Yet, ARDS is also not specific to COVID. It can be found in patients with other respiratory illnesses such as pneumonia and the common flu.
In recent news, Revive Therapeutics received an IRB approval to move on to Phase 3 trials for its drug: Bucillamine. Michael Frank, CEO of Revive Therapeutics stated that “with the IRB approval of the Phase 3 study protocol for Covid-19, we can recruit U.S. clinical sites efficiently, allowing us to move forward with providing Bucillamine to patients under our IND that was approved by the FDA last month.”
For those who don’t know, an IRB is essentially an independent research group used to study certain drugs for approval. This means that Revive Therapeutics can move forward with testing Bucillamine on human patients who desperately need the treatment.
What’s more, Revive has also applied for a provisional patent with the U.S. Patent and Trademark Office entitled, “Use of Bucillamine in the Treatment of Infectious Diseases” to further secure its position in the market. Revive Therapeutics has also signed a Memorandum of Understanding with Attwill Medical Solutions Sterilflow, LP in mid-August 2020. This is to establish Attwill as a resource for clinical packaging and distribution for Revive’s Phase 3 clinical trial to evaluate the safety and efficacy of Bucillamine in patients with mild-moderate COVID-19. With the progress being made including the FDA’s approval of the Phase 3 study for Bucillamine, will RVVTF stock be on your watch list this month?
Coronavirus Penny Stocks to Watch: Genetic Technologies Inc.
Genetic Technologies Inc. (GENE Stock Report) is another one of the coronavirus penny stocks to watch. Specifically, Genetic focuses on COVID-19 testing. Throughout 2020, GENE stock has made some bigger moves. In mid-July, the penny stock rose to highs of $10.30 after news that Genetic Technologies would scale up manufacturing of its COVID-19 test. The test uses a Single Nucleotide Polymorphism panel, which can show if a person may be more or less adversely affected by COVID-19.
“We see ourselves playing a very important part in responding to COVID-19 and we’re moving quickly to mobilise our partners to develop the right tools and technology to manage this pandemic,” said Genetic Technologies Chief Executive Officer Dr George Muchnicki. “We believe that the COVID-19 Severity Risk Test has the potential to play a critical role in how companies, governments and entire countries understand and manage preventative protocols moving forward.”
While this was great news and obviously larger catalysts, it was fleeting. GENE stock slipped from those $10+ highs to around $4. This is where the penny stock has traded at for most of the last month. The drop initially came after the company announced that it would raise over $5 million at a discount to the market.
However, the company did say it will use the proceeds to support the introduction and distribution of its new products in the US. This includes its testing platforms and preparation for its COVID-19 Severity Risk Test. Considering the new influx of cash and pointed focus on expanding its platform, will GENE be on your list of coronavirus penny stocks to watch this year?
Coronavirus Penny Stocks to Watch: Amyris Inc.
Amyris Inc. (AMRS Stock Report) has been on the radar of some investors for the past several months. After hitting a yearly high of just over $6 in June, AMRS stock began to dip down a bit. It recovered briefly but hasn’t managed to fully recover after that initial run-up. Many coronavirus penny stocks to watch this year experienced higher levels of volatility due to how speculative this area of the industry is. Amyris however, is working on a COVID-19 RNA vaccine program with the Infectious Disease Research Institute.
The goal for Amyris is to create a synthetic RNA vaccine platform that could be significantly better than other platforms that exist. CEO, John Melo stated that “we believe synthetic biology can play a significant role in scaling vaccines and therapies that meet the needs of global health crisis.”
This week AMRS stock grabbed attention. However, it didn’t have much to do with COVID-19. Amyris announced that it successfully scaled up the commercial production of Cannabigerol (CBG) leveraging its industrial fermentation process capability. The company said that the first commercial revenue from the sale of this molecule could come this year. Furthermore, Amyris said product margins could grow above the current industry average realized by existing publicly traded CBD suppliers.
Coronavirus Penny Stocks to Watch: Ampio Pharmaceuticals Inc.
Ampio Pharmaceuticals Inc. (AMPE Stock Report) is a biopharmaceutical company working on several drugs. Similar to other biotech stock companies, Ampio has moved into the COVID treatment niche. The company recently announced that it is moving forward with a new coronavirus therapy. In late June, The FDA completed its review of Ampio’s Investigative New Drug application for its intravenous Ampion treatment. Ampio then began a Phase 1 clinical trial to evaluate IV Ampion as a treatment for COVID-19 patients on supplemental oxygen.
Ampion has shown itself to be a fervent opponent of inflammation in the body. It may have very impressive anti-inflammatory characteristics in the lungs. Scientists have studied the effects that inflammation has on the body during COVID, and it can be detrimental to the patient. It induces ARDS and can also cause something known as a cytokine storm. This usually leads to death in many patients, causing massive inflammation as it is the body’s last resort in fighting illnesses.
In a recent update on its clinical trials, Ampio reported that the trial is cleared to enroll the remaining patients for the Phase I US-based clinical trial. Furthermore, for its inhaled treatment of Ampion, the company said a clinical trial protocol for treating patients who have respiratory distress due to COVID-19 with nebulized Ampion has already been submitted. It is also being reviewed by the FDA. Amio said that the addition of this safety data is expected to complete its IND application. As the market waits for new information, AMPE stock has traded relatively sideways over the last few weeks. Will September see renewed momentum or could AMPE slide further?